Today, Rep. Cindy Axne (IA-03) issued the following statement on testimony by Internal Revenue Service (IRS) Commissioner Charles Rettig regarding the need for amended tax returns for Americans looking to write off unemployment benefits on their 2020 taxes – a new benefit championed by Rep. Axne that was included in the American Rescue Plan earlier this month:
“This is fantastic news for those Americans who filed their 2020 tax returns prior to receiving the tax relief that I fought to include in the American Rescue Plan. I’m pleased that Commissioner Rettig listened to the concerns that I raised with him along with Senator Durbin and others, and that he is taking our recommendation by seeking to provide this relief automatically, rather than putting more on the plate of stressed and overwhelmed American families. I would urge everyone who is eligible for these benefits to hold off on filing an amended return, and look for final word from the IRS on getting these benefits.”
Earlier today, Commissioner Rettig testified before the House Ways & Means Committee that “we believe we will be able to automatically issue refunds associated with the $10,200.” The Commissioner stressed that Americans who had already filed their taxes but sought to still qualify for this benefit should not file an amended return at this time.
Last week, Rep. Axne and Senator Dick Durbin (D-IL) led a letter to the Commissioner Rettig, urging him to look at providing automatic refunds to those who’d already filed 2020 taxes on their unemployment benefits.
Axne and Durbin were the lead sponsors of the Coronavirus Unemployment Benefits Tax Relief Act, which was added to the American Rescue Plan earlier this month to provide tax relief on the first $10,200 of unemployment benefits received in 2020.
Original source can be found here.
